- On December 13, CME released its Conversion Proposal for Eris Libor Products on its website, cmegroup.com/swapfutures
- The proposal calls for CME to convert remaining Eris Libor positions to Eris SOFR contracts in June 2023
- As Eris SOFR Swap Futures are indexed to the benchmark Secured Overnight Financing Rate and will be backed by CME Portfolio Margining, the plan provides Eris Libor position holders increased assurance of a smooth transition during the upcoming Libor cessation